TIDMPNA
RNS Number : 3153S
Penna Consulting PLC
16 March 2016
16 March 2016
PENNA CONSULTING PLC
("Penna" or "the Company")
Rule 2.10 announcement & Directors Dealings
Issue of shares from treasury
Penna Consulting plc (PNA:AIM), the international human
resources consulting group, announces that it has issued 18,900
shares from treasury to satisfy the exercise of SAYE options by
certain employees and directors.
Following this re-issue the total number of ordinary shares held
as treasury shares is 148,099 Ordinary 5p shares and, in accordance
with Rule 2.10 of the City Code on Takeovers and Mergers, the
Company confirms that is has a total of 25,927,005 Ordinary 5p
shares each in issue (excluding shares held in treasury) and
admitted to trading on AIM under ISIN reference GB0006794662.
The above figure of 25,927,005 ordinary shares may be used by
shareholders as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or
a change to their interest in Penna under the Disclosure and
Transparency Rules.
Directors' dealings
The Panel Executive has agreed on an ex-parte basis that the
dealings below have no Code consequences.
Of the 18,250 shares issued from treasury, 11,250 were issued to
David Firth and 6,750 were issued to Julie Towers, both Directors
of Penna Consulting Plc, in respect of exercised SAYE options.
These options were not subject to the irrevocable undertakings
given by David Firth and Julie Towers, further details of which are
available in the Rule 2.7 announcement published by Olsten (U.K.)
Holdings Limited on 9 March 2016. David Firth has subsequently, on
15 March 2016 sold 11,250 shares at a price of 360 pence. Following
this transaction, David Firth and Julie Towers are beneficially
interested in 20,463 and 11,820 Ordinary 5p shares,
respectively.
This announcement has been made with the consent of Olsten
(U.K.) Holdings Limited.
A copy of this announcement will be made available on the
Company's website.
Enquiries:
Penna Consulting plc
Gary Browning, Chief Executive Tel: +44 (0) 207
332 7993
David Firth, Finance Director
Panmure Gordon (UK) Limited Tel: +44 (0) 207
886 2500
Rule 3 Adviser, Nominated
Adviser & Broker
Karri Vuori / Dominic Morley
/ James Greenwood
J.P. Morgan Cazenove Tel: +44 (0) 20 7742
Financial adviser to Penna 4000
Christopher Dickinson
Guy Bomford
Vigo Communications Tel: +44 (0) 207
016 9570
Ben Simons, Jeremy Garcia E: penna@vigocomms.com
or Fiona Henson
Panmure Gordon is authorised and regulated in the United Kingdom
by the FCA. Panmure Gordon is acting as Rule 3 Adviser, nominated
adviser and corporate broker exclusively for Penna and no one else
in connection with the Offer and other matters set out in this
Announcement and will not regard any other person as its client in
relation to the matters set out in this Announcement and will not
be responsible to anyone other than Penna for providing the
protections afforded to clients of Panmure Gordon, nor for
providing advice in relation to any matter referred to herein.
J.P. Morgan Limited is authorised and regulated in the United
Kingdom by the FCA. J.P. Morgan Limited conducts its UK investment
banking business as J.P. Morgan Cazenove. J.P. Morgan Cazenove is
acting as financial adviser exclusively for Penna and no one else
in connection with the Offer and other matters set out in this
Announcement and will not regard any other person as its client in
relation to the matters set out in this Announcement and will not
be responsible to anyone other than Penna for providing the
protections afforded to clients of J.P. Morgan Cazenove, nor for
providing advice in relation to any matter referred to herein.
Disclosure requirements of the Code
Under Rule 8.3(a) of the Code, any person who is interested in 1
per cent. or more of any class of relevant securities of an offeree
company or of any securities exchange offeror (being any offeror
other than an offeror in respect of which it has been announced
that its offer is, or is likely to be, solely in cash) must make an
Opening Position Disclosure following the commencement of the offer
period and, if later, following the announcement in which any
securities exchange offeror is first identified. An Opening
Position Disclosure must contain details of the person's interests
and short positions in, and rights to subscribe for, any relevant
securities of each of: (i) the offeree company and (ii) any
securities exchange offeror(s). An Opening Position Disclosure by a
person to whom Rule 8.3(a) applies must be made by no later than
3.30 pm on the 10th Business Day following the commencement of the
offer period and, if appropriate, by no later than 3.30 pm on the
10th Business Day following the announcement in which any
securities exchange offeror is first identified. Relevant persons
who deal in the relevant securities of the offeree company or of a
securities exchange offeror prior to the deadline for making an
Opening Position Disclosure must instead make a Dealing
Disclosure.
Under Rule 8.3(b) of the Code, any person who is, or becomes,
interested in 1 per cent. or more of any class of relevant
securities of the offeree company or of any securities exchange
offeror must make a Dealing Disclosure if the person deals in any
relevant securities of the offeree company or of any securities
exchange offeror. A Dealing Disclosure must contain details of the
dealing concerned and of the person's interests and short positions
in, and rights to subscribe for, any relevant securities of each
of: (i) the offeree company and (ii) any securities exchange
offeror, save to the extent that these details have previously been
disclosed under Rule 8. A Dealing Disclosure by a person to whom
Rule 8.3(b) applies must be made by no later than 3.30 pm on the
Business Day following the date of the relevant dealing.
If two or more persons act together pursuant to an agreement or
understanding, whether formal or informal, to acquire or control an
interest in relevant securities of an offeree company or a
securities exchange offeror, they will be deemed to be a single
person for the purpose of Rule 8.3.
Opening Position Disclosures must also be made by the offeree
company and by any offeror, and Dealing Disclosures must also be
made by the offeree company, by any offeror and by any persons
acting in concert with any of them (see Rules 8.1, 8.2 and
8.4).
Details of the offeree and offeror companies in respect of whose
relevant securities Opening Position Disclosures and Dealing
Disclosures must be made can be found in the Disclosure Table on
the Takeover Panel's website at www.thetakeoverpanel.org.uk,
including details of the number of relevant securities in issue,
when the offer period commenced and when any offeror was first
identified. You should contact the Takeover Panel's Market
Surveillance Unit on +44 (0) 20 7638 0129 if you are in any doubt
as to whether you are required to make an Opening Position
Disclosure or a Dealing Disclosure.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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